Best Crypto to Buy Now September 19 – Stacks, Litecoin, VeChain
A group of U.S. senators is pushing for stricter oversight of the cryptocurrency industry. With this proposal gaining momentum, what is the best crypto to buy now?...
- A group of U.S. senators, led by Senator Elizabeth Warren, is pushing for stricter oversight of the cryptocurrency industry to combat illicit financial activities.
- Nine additional senators from both parties have joined Warren's call for legislation that would impose regulations on cryptocurrency transactions.
- The bipartisan bill is currently the most comprehensive one addressing the misuse of cryptocurrencies and would offer regulators enhanced oversight mechanisms.
- Several influential non-governmental organizations and industry groups have endorsed the proposal.
- Warren highlighted the potential risk to tax revenue, referring to a sizable "crypto tax gap" that could lead to a loss of approximately $1.5 billion in tax revenue for the fiscal year 2024.
- Bitcoin and other altcoins like Stacks, Wall Street Memes, Litecoin, Bitcoin BSC, and VeChain are experiencing positive price action and are considered wise candidates for investment.
The sentiment in the article is mostly positive, with Senator Warren expressing feelings of positivity and readiness within Congress to confront the challenges posed by cryptocurrencies. The endorsements from senators, non-governmental organizations, and industry groups further highlight the support for the proposed legislation. The positive price action of Bitcoin and other altcoins also suggests a bullish outlook for cryptocurrency investments.